The Federal Reserve Board on Thursday projected the potential for a rockier road ahead for banks than it did a year ago, but said the 33 financial institutions it reviewed passed its annual stress test of capital reserves. The Fed estimated $ 612 billion in potential losses for banks in its most severe economic scenario,…
Historically bad. That’s how the mammoth $ 53 trillion US fixed-income market has performed this year as the Federal Reserve works to curtail high inflation threatening to wreck the economy. To turbo charge the effort, the Fed on Wednesday fired off its biggest benchmark interest rate increase in nearly thirty years. But what does that…
Read More “What the Fed’s biggest rate hike in decades means for the bear market in bonds” »
The Dow Jones Industrial Average won’t be trading on Monday when the new Juneteenth federal holiday is observed, because the stock market will be closed, and so will many of the Dow’s components. That’s a relatively quick turnaround for the New York Stock Exchange and Nasdaq exchange to close for Juneteenth, just one year after…
Read More “Here’s how some Dow industrials companies are observing the Juneteenth holiday” »
US stocks tumbled late Thursday to close sharply lower, with the Nasdaq skidding 2.8%, as jittery investors looked ahead to a reading on May inflation due Friday morning. What happened The Dow Jones Industrial Average DJIA, -1.94% tumbled 638.11 points or 1.9%, to close at 32,272.79 The S&P 500 SPX, -2.38% skidded 97.95 points, or…
